I'm Host and Career Coach, Shannon Russell. With all the corporate layoffs taking place right now, this is a special episode all about preparing now for the unexpected in your career. If you have a steady job, then you are in a great place to prepare for your future now. No matter what type of work you do it is wise to be prepared. You never know when a lay off could come, when a health issue could arise, when there's something that would take you away from the steady paycheck that you now hold. Today I am sharing advice on how you can prepare an exit plan that favors you. Listen to more on the Second Act Success Podcast!
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Second Act Success Podcast
Season 1 -Episode #41 - Prepare for the unexpected in your career
Host: Shannon Russell
Transcription (*created by Descript and may not be perfectly accurate)
[00:00:00] Shannon Russell: Are you at a crossroads in your career? Ready for a change, but you're not sure how to get there. Don't worry. We are about to produce your best life together. Welcome to the Second Act Success Podcast. I am your host. Shannon Russell. I am a former Television Producer turned boy mom. I left my dream job to find family balance and in doing so, I produced my dream life. Now I am a Business Owner, Podcaster, and Career Coach. My mission is to help other women, like you, find what they are truly meant to be doing. If you are ready to start over in your career or pivot to a new purpose, then get ready to be inspired by stories of women who have done just that. We will share advice and actionable tips to motivate you as you move along on your path. It is time to shine. So let's start producing your balanced life of abundance today. This is Second Act Success.
[00:01:00] Shannon Russell:
Hey, my friend, it's Shannon Russell. I'm here to do a little solo episode today. I've kind of gotten away from these solo episodes, this fall, just getting my course up and running and a million other things. I promise that I will be doing more solo episodes come 2023.
For this episode, I really wanted to speak to all of the layoffs happening right now in corporate America. This is a mini episode all about preparing now for the unexpected.
If you have a steady job, then you are in a great place to prepare for your future now. As we are learning more and more no quote unquote steady job is guaranteed. Therefore, whether you are an executive high up at a company, working a nine to five job in retail, or a contractor working project to project, it's never too early to start planning an exit plan that favors you.
What I mean is plan for the worst, hope for the best. It's [00:02:00] not meant to be pessimistic or overly dramatic, but really it's in more of a better safe than sorry, type of approach.
Let me explain. No matter what type of work you do it is wise to be prepared and expect the unexpected. You never know when a lay off could come, when a health issue could arise, when there's something that would take you away from the steady paycheck that you now hold.
I want to share some tips with you today that can help you prepare now. Just in case that steady paycheck goes away at some point. You want to know that you've done everything in your power now, when you feel good and steady and in control. Before time might appear when you're not in control.
Tip number one. Are you an active member of your network? I'm talking about both in-person with friends and colleagues, and online. Do you comment on LinkedIn posts that colleagues write? Do you make new connections whenever possible? Are you someone [00:03:00] who deletes and ignores friend requests on LinkedIn or do you accept everyone?
Are you posting regularly about your work and your accomplishments on LinkedIn and on Instagram and Facebook for that matter as well, all social platforms have a way for us to really be active and network with the people that we know. And yes, we might not be friends with everyone that we're quote, unquote friends with. But these are people that have been in our lives in some shape way or form over the years, these might've been previous coworkers, people you went to high school with, college with, family members, family friends. These people are in your life for a reason. And you never know when you might want to lean on them for some help or advice down the road.
By posting and keeping people in your network. Abreast of what you are doing for your career and what accomplishments you're having. This just keeps you on everyone's radar. How cool is it when you get a post from someone in high school that you haven't spoken to in years, but they post something [00:04:00] celebratory about buying a business or getting some really incredible job. It makes you stop, look and read, right? And now you're thinking of that person. So when you post that you just got this new promotion or you just accomplished some really cool project t hat you are proud of share it. You never know when someone else is sitting at the computer and sees that post pop up. And now you're in the front of their minds.
On another note, have you made time to see your friends or former coworkers lately? I'm talking in person. Do you ever spend time outside of work with your current team grabbing a drink after work or going for an afternoon coffee if you're working from home now, do you ever make a point to meet up with coworkers to actually see them face to face? Making sure to connect with people now helps when you need them later.
Let's think of this scenario. You get a DM from someone you haven't spoken to since college. Instead of saying, Hey, how are you? It's been so great. They [00:05:00] immediately come at you with saying, Hey, I see that you're at so-and-so company. Is there any way you can get me in front of the hiring manager?
That kind of message. Immediately sets you off because you haven't connected with this person in years. So do you want to go out of your way to help them possibly get a job at your company? However, if you've actively engaged with people, liking their posts, making a quick comment here and there. Then at least you're on their radar and they're on your radar. So then a DM like that won't seem super out of the blue.
You can decide if you want to take part and help them, but if you're liking their comments and then one day you reach out and ask them for an introduction to their hiring manager. I'm sure they're going to be much more inclined to help you because they've seen your comments throughout the years really guys, simple as liking a post. Really doesn't hurt anyone. And in fact it truly helps you. I know it sounds silly and little, but it helps you engage. And [00:06:00] that is what social networks are for.
Interacting online and getting together whenever possible in person offline is truly helpful. If you simply stay even a little bit active online and keep in touch with people in your circle often, then they will be happy to help you. If you ever need a favor.
Tip number two. Have you been keeping an eye on the market? Any idea how the job market in your industry is outside of your office walls? It's wise to keep your finger on the pulse of not only what's happening within your company, but in other companies, in your industry as well. If something were to happen and you're no longer employed by your company, would you be interested in working for a competitor? If so then you should be keeping your eye on them now. And if you're considering a possible change into another industry, why not start your research while you're working. Having a job is the best time to research other opportunities. Fine companies or roles that you [00:07:00] may be interested in and suss them out now. Always be thinking ahead, especially when you have a paycheck coming in. Because why not?
If you're sitting at your desk from nine to five, then maybe from 10 to 11, you want to do a little research time. Everyone deserves a break. You're just perusing, LinkedIn a little bit. You're perusing indeed. And your learning a little bit about what's going on in the market outside of your cubicle.
Hey, it's Shannon. I am just popping in to let you know that the waitlist for my next session of the Second Act Accelerator Course is now open. Join the waitlist at secondactsuccess.co/waitlist. This course is for career professionals, ready to pivot to a new purpose.
I will help you narrow down those career change ideas that have been swirling around in your head using my Second Act Strategy.
By the end of the program. You will have an action plan on how to get to that next career goal. Join [00:08:00] like-minded individuals in our private community group. Plus you will have access to weekly group coaching, live workshops, expert guests and one-on-one coaching with me.
I have been busy working with my first cohort of students. And let me just tell you, they have been planning and progressing so well now it is your turn. Join the waitlist at secondactsuccess.co/waitlist. And I hope to see you in the next session of theSecond Act Accelerator this January.
Now it's back to the episode.
Tip number three. Is your resume up to date? I speak with clients who laugh when I asked them this question. They often say, but why should I update my resume when I have a job? The whole point is to have it up to date for if and when you need it. The last thing you want to do is find yourself out of a job stressed. And now you have to sit down at the computer to think about the role that you no longer have and write about all of the incredible things you did while you were there. [00:09:00] So keep it updated at all times. It doesn't take a lot of time or effort. So today I want you to pull up your current word document of your resume and add your current role to it. List your responsibilities, highlight your strengths. And don't forget to gather the contact info for any references that you may want to use right now. This way, you'll have all this information updated down the road, if, and when you need it.
Tip number four. Save now to feel safe later. While you are working. It's easy to get caught up with the comfort of a paycheck. Always being there. As the employees of Meta, Amazon and Twitter have learned over these past few weeks. Direct deposit can end at any time.
why not try to stash a little extra cash away now for a rainy day? I know, I know we're all taught to do this, but how many of us can really say that we have that emergency fund filled to the brim?
It's easier said than done, but [00:10:00] even $5 a day is a start. Finance expert. David Bach writes about the latte factor, which I have been a long time fan of. He says that if you have money for a latte, you have money to save. So try to take that money that you would've spent on that coffee on the way to the office and put it in a savings account instead.
It's such a simple step that can add up to a lot at the end of the month. For example, if you spend $3 on a coffee every day, that's $90 that you could be saving by the end of the month. If you're working now to open your own business one day, then the same idea comes into play. Set a goal for yourself. Maybe you want to quit and finally launched that side hustle business. So why not put a goal in place? Set a goal that in three to six months, you will quit your job and start making your side hustle. Your full time job.
Put the pressure on yourself now to save as much as you can in that time, [00:11:00] while you were earning a paycheck from someone else.
It will only help you to reach your goal of being an independent earner sooner.
Tip number five. Keep your options open at all times. You never know when an opportunity will arise. Keep your eyes and ears open. When you're in conversations with friends, stay active and alert on LinkedIn and other social platforms and allow yourself the space to think about what will make you happy.
If your current career path isn't fulfilling you, then it's okay to keep options open, to look for something else that may be a better fit for when the time is right. When you're open to possibilities, then you never know what exciting adventures will present themselves. Even when you least expect it.
I truly believe in being a lifelong learner. So if you're constantly reading books, listening to podcasts, watching Ted talks, and really just keeping yourself educated about the industry that you're currently in, or the industry that you hope to be in one day. You'll only be that much more [00:12:00] prepared. educate yourself in any way that feels right to you.
So These are just five tips that you can try to utilize now while you're lucky enough to have a steady job. Hopefully you'll never have to worry about a layoff or some life altering event to occur, but you'll be prepared and you'll feel better knowing that you're protecting yourself and your family for the unknown.
I hope these tips have been enlightening for you. And If you want any more career advice, you can follow me on social I'm on Instagram and TikTok at @secondactsuccess. And on Facebook I'm @secondactsuccess.co.
And of course, for more information on my coaching services. My Second Act Accelerator Course. The podcast and more career related advice. You can go to secondactsuccess.co.
I'm Shannon Russell, thanking you for spending some time with me for this special mini episode of the Second Act Success Podcast. I'm looking forward to chatting with you more next time.
Thank you for joining [00:13:00] us. I hope you found some gems of inspiration and some takeaways to help you on your path to Second Act Success. To view show notes from this episode, visit secondactsuccess.co. Before you go, don't forget to subscribe to the podcast. So you don't miss a single episode. Reviews only take a few moments and they really do mean so much. Thank you again for listening. I am Shannon Russell, and this is Second Act Success.